Malaysia’s state investor Khazanah Nasional Bhd said late Monday it will buy an 8% stake in Philippine property developer 8990 Holdings Inc. for 2.93 billion Philippine pesos ($65.87 million). The investment marks Khazanah’s first foray into the Southeast Asian nation.
As part of the deal, Khazanah agreed to be a cornerstone investor for 8990 Holdings’ upcoming share offering, Khazanah said in a statement. 8990 Holdings, which is already listed on the Philippine Stock Exchange, is making a follow-on share offering to raise funds for expansion………………………………………..Full Article: Source